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SoftBank’s investments decline in latest quarter but Stargate may ramp them up

YourStory

YourStory · 6m ago

SoftBank’s investments decline in latest quarter but Stargate may ramp them up

SoftBank Group experienced a slowdown in investment activity, spending about $600 million in the quarter ending December 2024. However, the company plans to ramp up future investments, contingent on the success of its AI infrastructure project, Stargate. Swiggy, a major SoftBank investment, went public with a significant IPO, boosting its valuation, despite recent stock declines. SoftBank’s Vision Fund reported a loss, but the company remains optimistic about future AI investments.

Related News

Tech firms’ temp worker costs dip as demand falls

Livemint

Livemint · 1y ago

Tech firms’ temp worker costs dip as demand falls

Top Indian IT services companies such as TCS, Infosys, HCL Technologies, and Wipro have successfully reduced their temporary staff costs, which had increased due to the pandemic. Sub-contractor expenses as a percentage of revenue for these companies in the December quarter fell below or near pre-pandemic levels. Spending less on temporary workers is a significant factor in improving profitability for IT firms. The decline in sub-contractor costs signals better profitability in the future. Despite the decline, sub-contractor hiring is expected to increase as demand and deal wins ramp up in the next 6-9 months.

Tesla’s year-over-year sales dropped for the first time since 2020

The Verge

The Verge · 1y ago

Tesla’s year-over-year sales dropped for the first time since 2020

In Q1 2024, Tesla delivered 386,810 vehicles, falling short of the previous quarter and experiencing a year-over-year sales decline. The company attributed the decrease to issues with the production ramp-up of the updated Model 3 at its factory in Fremont, as well as shipping delays caused by external factors such as rebel attacks and arson. However, analysts see this as a significant setback for Tesla and believe that CEO Elon Musk needs to address the situation swiftly to regain momentum.

Foxconn chairman says collaboration with Softbank in Ohio is part of Stargate project - The Economic Times

Economic Times

Economic Times · 11d ago

Foxconn chairman says collaboration with Softbank in Ohio is part of Stargate project - The Economic Times

Foxconn Chairman Young Liu confirmed a collaboration with SoftBank in Ohio linked to OpenAI's Stargate project, which focuses on advancing AI infrastructure. SoftBank will provide the venue and equipment, while Foxconn will manufacture data center equipment at its former electric vehicle factory, sold for $375 million. Stargate is a joint venture including OpenAI and Oracle, backed with potential investments of up to $500 billion. Ohio was chosen for its suitability in terms of power and timing.

PE/VC Investments Surge 60% YoY To $13.6 Billion In Jul-Sep Quarter: Report

OutlookIndia

OutlookIndia · 1y ago

PE/VC Investments Surge 60% YoY To $13.6 Billion In Jul-Sep Quarter: Report

According to the latest EY-IVCA monthly PE/VC roundup, private equity (PE) and venture capital (VC) investments in India saw a significant growth of 60% YoY in the July-September quarter, reaching $13.6 billion. The quarter recorded 209 deals, indicating a rise in investments. However, compared to the previous quarter, the total value of deals was slightly lower, down by 5%. Growth investments and buyouts were the highest sectors, while the life sciences sector received a considerable sum of investments. The start-up sector faced challenges, with investments at a seven-year low. Exits also showed growth across all deal segments.

Xiaomi reports better-than-expected profit in smartphone market

Livemint

Livemint · 2y ago

Xiaomi reports better-than-expected profit in smartphone market

Xiaomi's net income for the quarter was below expectations at 2.28 billion yuan, but its revenue decline was less severe than projected, sliding 4% to 67.4 billion yuan. The company's increased focus on premium smartphones and expansion into regions like Latin America and Europe has contributed to its stabilizing performance. Additionally, Xiaomi's entry into the electric car market, with an estimated 2024 revenue contribution of up to 5%, and its investments in AI development are part of its strategy for growth.

Dabur India expects mid-single digit revenue dip due to floods, inventory issues | Mint

Livemint

Livemint · 11m ago

Dabur India expects mid-single digit revenue dip due to floods, inventory issues | Mint

- Dabur India is expected to report a mid-single-digit decline in consolidated revenue for the September quarter due to heavy rains and floods across parts of India. - Adverse weather conditions impacted out-of-home consumption and led to excess inventory in kirana stores. - Dabur India plans to correct distributor inventory in general trade channels, which were affected by disproportionate growth in quick commerce and modern trade. - The company's distributor inventory correction may lead to a temporary decline in top-line revenue. - However, the international business is expected to register double-digit constant currency growth in the top-line. - Investments in advertising and promotions continued during the quarter.

Microsoft's AI investment stabilizes its cloud business

Economic Times

Economic Times · 1y ago

Microsoft's AI investment stabilizes its cloud business

Microsoft reported strong sales in its latest quarter, demonstrating that its corporate customers are increasing spending in the uncertain economy. The results also showed that the company's investments in generative artificial intelligence were beginning to boost sales, particularly in the cloud computing sector. Microsoft's revenue for the quarter was $56.5 billion, a 13% increase from the previous year, with a profit of $22.3 billion, up 27%. The company's investments in generative AI, including its partnership with OpenAI, contributed to the growth in the cloud computing product Azure, which saw a 29% increase.

The one bright star in a bleak year for IT

Livemint

Livemint · 1y ago

The one bright star in a bleak year for IT

HCL Technologies is expected to outshine other Indian IT services companies in terms of revenue growth and profitability in FY24, according to investor notes and analyst predictions. HCL is projected to achieve a revenue growth of 4.7% in FY24, outperforming larger competitors like Tata Consultancy Services (TCS) and Infosys. TCS is expected to see slower revenue growth of around 4%, while Infosys may report a slight decline in revenue for the March quarter but a 2% increase for FY24. Only Wipro is expected to see a decline in both the March quarter and FY24 revenue. Overall, the IT sector's performance is subdued due to delayed discretionary tech spending.

Companies to focus on premium segment, price hikes as FAME subsidy ends

Thehindubusinessline

Thehindubusinessline · 1y ago

Companies to focus on premium segment, price hikes as FAME subsidy ends

As the Faster Adoption and Manufacturing of Hybrid and Electric Vehicle (FAME-II) subsidy is set to end, electric vehicle companies are preparing to focus on the premium vehicle segment while increasing prices by up to 25%. They are still hoping for an extension of the subsidy, but are anticipating a decline in sales if it is not granted. The withdrawal of subsidies poses challenges for EV players and raises concerns about discouraging consumer adoption. The discontinuation may also disrupt investments and hinder the overall growth of the EV sector in India.

Thanks to SaaS, Chennai remains unperturbed by funding winter, claims report

Business Today

Business Today · 2y ago

Thanks to SaaS, Chennai remains unperturbed by funding winter, claims report

The funding winter may have been sending chills across the start-up ecosystem, but it appears not to have penetrated Chennai’s humid climate. According to a report by global consulting firm PricewaterhouseCoopers (PwC), while metro cities such as Delhi, Mumbai, Bengaluru, Pune and others saw a decline in the number of start-up deals, Chennai, on the contrary, saw an uptick.

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